Lucid Announces First Quarter 2023 Financial Results

U.S. EV shares slump following news of Lucid (LCID) and Fisker (FSR) poor 1Q results and production cuts

U.S. electric automakers saw a decline in share prices Tuesday morning following cuts to production forecasts by Lucid Group Inc (NASDAQ: LCID) and Fisker Inc (NYSE: FSR), with Lucid sliding 9% in early trading.

Fisker shares were last down 5.3% after the company reported quarterly results. The company reported 1Q EPS of ($0.38), $0.08 worse than the analyst estimate of ($0.30). Revenue for the quarter came in at $198 thousand versus the consensus estimate of $6.33 million. The EV maker also announced... More

Lucid’s (LCID) 1Q miss sends shares into pre-market dive as analysts sprint to adjust

Lucid Group (NASDAQ: LCID) reported its 1Q earnings results after the close Monday, reporting EPS of ($0.43), $0.04 worse than the consensus estimate of ($0.39). Revenue for the quarter came in at $149.4 million versus the consensus estimate of $199.35 million.

CFRA Research cut their 12-month target on LCID by $1.00 to $6.00 and cut 2023 EPS estimates to ($1.60) from ($1.40). CFRA analyst, Garret Nelson believes that LCID's weak top line suggests the EV pricing war may be taking its toll.

Analysts at Cantor Fitzgerald remain bullish on Lucid. However, they too lowered their price target on RIVN (to $10.00 from $13.00) due to... More

Lucid Group (LCID) Reports Q1 Revenue of $149.4M vs Estimate of $197.8M

Lucid Group (LCID) Reports Q1 Revenue of $149.4M vs Estimate of $197.8M

Lucid Group (LCID) Misses Q1 EPS by 4c

Lucid Group (NASDAQ: LCID) reported Q1 EPS of ($0.43), $0.04 worse than the analyst estimate of ($0.39). Revenue for the quarter came in at $149.4 million versus the consensus estimate of $199.35 million.

For earnings history and earnings-related data on Lucid Group (LCID) click here.